"This is the culmination of what we've been working towards for the last 15 years," Margherita said in a statement, according to the Chicago Tribune.

Wilco will work with Anti-Records, which has connections with Epitaph Records. It will require the band to sever ties with its current labels, Reprise and Nonesuch.

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Wilco currently is working on a new album on Chicago's North Side and planning a tour beginning in March. According to the band's website, the closest they'll be to Chicago is Madison, Wis., on March 28.